Former FHA chief David Stevens said use of the False Claims Act as a “legal sledgehammer will now be tested by one of the highest quality FHA lenders in the nation.”

Grid Financial consultant Paul Hindman is a true believer in brokers as is Mat Ishbia of United Wholesale Mortgage.

Recent actions by the Federal Housing Finance Agency, the government-sponsored enterprises and FHA to make it easier for borrowers to get a mortgage are probably going to be an inconsequential wash overall, according to a panel of industry representatives and policy experts. However, there was some optimism expressed as well. Commenting on last week’s changes from the FHFA on GSE guaranty fees and loan-level price adjustments, Ron Haynie, senior vice president of ...

Most of the slack is being taken up by nonbanks, which serviced $1.571 trillion of agency MBS at March 31.

Quicken Loans this week went where no lender in the mortgage industry has gone before: Suing the U.S. government for suggesting it’s been doing a crappy job of originating FHA loans. Its legal action not only caught most of the industry by surprise, but resulted in loud applause from the Mortgage Bankers Association and K&L Gates partner Larry Platt. A number of major lenders have paid...

DOJ cites an email written by a Quicken divisional vice president for underwriting who brags that the lender has a team that is “responsible to pushback on appraisers questioning their appraised values.”

The Federal Reserve is seen as taking the brunt of nonbank servicer-induced prepayment risk on agency MBS.

The trend reflects the surge in VA home loan originations over the past few years at a time when the FHA has lost market share to private mortgage insurers.

Quicken is the first major lender in the nation to challenge the government in this regard by filing a lawsuit.

The lender says government investigators have conducted lengthy depositions with numerous Quicken leaders…